FIG Partners Comments on Heritage Financial Corp’s FY2018 Earnings (HFWA)

Heritage Financial Corp (NASDAQ:HFWA) – Analysts at FIG Partners upped their FY2018 earnings per share (EPS) estimates for shares of Heritage Financial in a note issued to investors on Wednesday. FIG Partners analyst T. Coffey now anticipates that the financial services provider will earn $1.91 per share for the year, up from their previous estimate of $1.68. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for Heritage Financial’s FY2019 earnings at $2.15 EPS.

Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Heritage Financial had a return on equity of 8.42% and a net margin of 23.48%. The business had revenue of $43.39 million for the quarter, compared to analyst estimates of $42.85 million.

Several other equities research analysts have also weighed in on the company. DA Davidson raised their target price on Heritage Financial from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. BidaskClub lowered Heritage Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday, October 30th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 target price on shares of Heritage Financial in a research report on Friday, December 22nd. Finally, ValuEngine raised Heritage Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Heritage Financial presently has a consensus rating of “Buy” and an average target price of $33.25.

Shares of Heritage Financial (NASDAQ:HFWA) traded down $0.05 during midday trading on Thursday, hitting $30.40. The stock had a trading volume of 74,300 shares, compared to its average volume of 125,133. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. Heritage Financial has a 1-year low of $22.50 and a 1-year high of $33.25. The firm has a market cap of $912.84, a price-to-earnings ratio of 21.87, a PEG ratio of 1.84 and a beta of 0.47.

Several hedge funds have recently made changes to their positions in HFWA. Bank of New York Mellon Corp grew its stake in shares of Heritage Financial by 135.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 463,253 shares of the financial services provider’s stock valued at $12,276,000 after purchasing an additional 266,882 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Heritage Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,619,714 shares of the financial services provider’s stock valued at $42,923,000 after purchasing an additional 110,898 shares during the last quarter. 361 Capital LLC purchased a new position in shares of Heritage Financial in the 3rd quarter valued at approximately $2,166,000. Chicago Equity Partners LLC purchased a new position in shares of Heritage Financial in the 3rd quarter valued at approximately $1,932,000. Finally, Thrivent Financial For Lutherans grew its stake in shares of Heritage Financial by 229.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 93,340 shares of the financial services provider’s stock valued at $2,473,000 after purchasing an additional 65,040 shares during the last quarter. Institutional investors own 78.13% of the company’s stock.

In other Heritage Financial news, Director Brian Charneski sold 2,000 shares of Heritage Financial stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total transaction of $63,560.00. Following the transaction, the director now owns 29,602 shares of the company’s stock, valued at $940,751.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John A. Clees sold 1,000 shares of Heritage Financial stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $30.01, for a total value of $30,010.00. Following the transaction, the director now directly owns 47,042 shares in the company, valued at approximately $1,411,730.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,636 shares of company stock worth $667,583. 2.70% of the stock is currently owned by corporate insiders.

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Heritage Financial Company Profile

Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.

Earnings History and Estimates for Heritage Financial (NASDAQ:HFWA)

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